By Jason Simpkins Staff Writer Oil prices touched another record high Friday, hitting $84.05 per barrel on the New York Mercantile Exchange. The price was spurred on by Thursday's lackluster inventory report, and the prospect of more violence in Northern Iraq. The U.S. Energy Department reported Thursday that U.S. crude oil inventories declined by 1.67 […]
Archives for October 2007
October 2007 - Page 8 of 13 - Money Morning - Only the News You Can Profit From
Aluminum Giant Alcoa Awarded Major Parts Contract for New Stealth Jet
By William Patalon III Managing Editor Money Morning/The Money Map Report Defense contractor Lockheed Martin Corp., (LMT) has awarded aluminum giant Alcoa Inc.(AA) a $360 million contract to supply special castings for the special new stealth fighter jet known as the ‘Joint Strike Fighter.' The U.S. military will use the Lockheed Martin F-35 Lightning II […]
Retail Sales Skyrocket and Inflationary Pressures Remain Dormant
Untitled Document From Staff Reports The U.S. Commerce Department reported a big jump in September retail sales Thursday, according the Associated Press. The 0.6% increase outpaced projections and doubled the rise in sales seen in August. The positive news warded off much of the recession talk looming over the credit crunch and housing market. Weak […]
U.S. Market Update: Earnings Start, Deals Continue, Fed Minutes Upbeat...
The almighty consumer accounts for two-thirds of the economy's growth (or, at least, that's what the "experts" always claim). Well, last week, they received some pretty mixed signals about consumer activity: past, present, and future. While the world's top retailer, Wal-Mart Stores Inc. (WMT), surprisingly increased its earnings forecast for the third quarter, few others […]
Thirsty for Profits? Ten Ways to Play the Worldwide Beer Market
By Martin Hutchinson Director of Global Investing Research SAB Miller PLC (SBMRY) and Molson Coors Brewing Co. (TAP) agreed on Tuesday to merge their U.S. brewing operations, creating a worthy rival for Anheuser-Busch Cos. Inc. (BUD). The deal also highlights the fact that – pretty well throughout the world (well, may be not in Moslem […]
China and Japan Digging Up A Skirmish 'Down Under'
By Jason Simpkins Staff Writer Murchison Metals, a company heavily backed by Japan-based Mitsubishi, has launched a hostile takeover of Midwest Corp., a company backed by Sinosteel, a state owned Chinese entity. The maneuver underscores a long-standing rivalry between the two nations, one that sees the two Far East juggernauts squaring off in a bid […]
Pepsi's Stellar 3Q Gains Fueled By International Growth and Falling Dollar
By Mike Caggeso Staff Writer PepsiCo Inc. (PEP) ended its third quarter with big numbers – a 17% gain in net income, a 19% increase in earnings per share, and an 11% gain in revenue – largely because of its continually growing international presence. The global beverage-and-food company has been ramping up operations in China, […]
Bank of Japan Holds Its Lending Rate Steady
From Staff Reports Bank of Japan policymakers yesterday (Thursday) voted 8-1 to leave the key overnight lending rate unchanged at 0.5%. Japan's central bank last raised interest rates in February, when it lifted the overnight rate by a quarter of a percentage point. The announcement was published on the Bank of Japan's website yesterday afternoon. […]
Deutsche Bank Boosts YUM Brands Target Price to $43
From Staff Reports With its 'robust' cash flows and terrific international growth prospects – especially in China – restaurant operator Yum Brands Inc. (YUM) remains a "Buy," Deutsche Bank Securities (DB) analysts said yesterday (Thursday). The Yum Brands target price has been raised from $38 to $43, Deutsche Bank Securities said. Shares of Yum Brands […]
Goldman Sachs Finding Resistance to Deals in China
By Jason Simpkins Staff Writer Goldman Sachs (GS) will relinquish its control of the consortium that owns China's largest meat processor, the Financial Times reported. The unexpected decision again raised concerns about China's ongoing reluctance to allow foreign ownership of high-profile domestic companies. Last year, Goldman Sachs teamed up with Chinese private equity firm CDH […]